Key Facts
What the world’s markets decided. The United States and Iran announced a framework deal to end their war, and that single event split the market in two — cheaper oil lifted most stocks, with US tech soaring (the Nasdaq +3.07%), but it slammed the companies that sell oil. Crude fell to its lowest since the conflict began, down about 13% from the middle of last week.
The blow that landed on Latin America. The region’s big oil exporters were the day’s worst performers anywhere — Brazil’s Petrobras fell −5.66%, Argentina’s YPF −5.90% and Colombia’s Ecopetrol −5.37%, the most extreme moves in our entire global scan. Cheaper oil is good for the world’s inflation but painful for the companies that pump it.
Who won instead. The same falling oil and cooling inflation sent US technology flying — chipmakers jumped +5.40%, Meta +4.67%, Nvidia +3.54% and Amazon +3.13% — handing market leadership back to America after a week in Asia’s hands.
The hedge underneath. Even on an up day, investors bought protection — gold rose +2.59%, silver +3.56% — a sign they are positioning carefully ahead of the US Federal Reserve’s decision on Wednesday, the first under new chair Kevin Warsh.
